The editor in chief of MSN Money, Richard Jenkins, says the best way for him to come out ahead at the end of the month financially is to only spend 60% of his income.

Socking away 40% of your income into retirement and savings seems like a HUGE chunk of change to miss out on in your regular spending. But Jenkins says if the 60% rule seems impossible, you're probably in a lifestyle situation that needs to change.

You have a more expensive home than you can afford.

You've committed to car or boat payments that are larger than you can afford.

Your children are in a private school that you can't really afford.

There's just a big, ugly gap between your income and your lifestyle.

I'm a pretty good saver, but I don't know that I'm 40% good. Anyone else out there ditch the budget and come up with a fixed savings percentage that works for you? Let us know in the comments or at tips at lifehacker.com.